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Absa Group Ltd., one of the largest financial services providers in Africa, told investors yesterday that its programme to separate from Barclays PLC is 69% complete, with 184 of the 266 projects having been successfully delivered, two years into the three-year programme.

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) erased most of last month’s gain and fell to 45.4 index points in May from 47.2 points in April. Barring a drop to 45 points in March, this is the weakest level since October 2018.

Societe Generale, a leading European bank with operations in 19 African countries, and Absa Group Limited (“Absa”), a leading financial services group in Africa with presence in 12 countries, announced in January a commercial agreement on a combined wholesale banking offer to better serve their clients in their financial needs across the African continent

Absa Group Limited today announced another successful migration project following on from the completion of the core banking system migration of six subsidiaries (Tanzania, Ghana, Botswana, Zambia, Mauritius and Seychelles) in April 2019. The latest project was undertaken during 18-19 May 2019 and it unlocks further benefits, including upgraded infrastructure and new customer interfaces in some instances.

We launched a #BeatPlasticPollution campaign as a commitment to reducing our environmental footprint. The group has replaced a range of single-use plastic items used by about 22 000 staff members daily at restaurants and coffee bars at nine of its sites in South Africa.

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose by 2.2 points to reach 47.2 index points in April. This was the first increase after three months of declines in the headline PMI. However, the PMI remains below the neutral 50-point mark and is more or less in line with the average recorded in the first quarter of 2019. This means that factory conditions stabilised at a fairly depressed level at the start of the second quarter.

On 17 February 2017, the Competition Commission of South Africa announced that it had decided to refer several banks (foreign currency traders) to the Competition Tribunal for prosecution. While the list included Absa Bank, the Commission also stated that it would not be imposing a fine or any other sanction against Absa.

Absa Group Limited today announced that it has successfully migrated the banking platform used by six of its African subsidiaries – in Botswana, Ghana, Mauritius, Barclays Tanzania, Seychelles and Zambia – from Barclays Plc’s data centre in the United Kingdom to Absa’s data centre in South Africa.

Absa Group Reports Increase in 2018 Earnings; Resets for Delivery Against Strategy

We have stepped up efforts to combat a recent spike in illicit debit orders and will file criminal charges against those suspected of being responsible.